It’s just normal for a business to hit its slump at times of unfortunate events.
U.S. burger chain Wendy’s Co on Wednesday reported a smaller-than-expected rise in third-quarter sales at established restaurants in North America, as hurricanes hit traffic at restaurants in Florida and Texas
Wendy’s net income slid down to $14.3 million from $48.9 million due to higher commodity costs and tax rate. Wendy’s has the highest concentration of stores in Florida and Texas, which were affected by hurricanes Harvey and Irma. Wendy’s expects earnings of 12 cents per share; however, they were cut short with 9 cents per share.
There is quite a big gap with Wendy’s expected earning per share but surely in no time, the company would be able to regain what was lost.
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